CASE STUDIES

Insurance services and the maintenance of a core system for 3 countries

The Cardif Shared Services Centre provides IT services to BNP Paribas Cardif in the Czech Republic, Slovakia and Austria. Profinit develops and maintains one of the core insurance systems that has been operated by the Shared Services Centre. Our services have consisted of a transparent and swift takeover phase, many software process optimisations and technical improvements resulting in a 50% increase in delivery effectiveness and allowing us to significantly shorten the time to market for new requirements. The core system is a stable and reliable pillar that supports the client’s business and enables BNP Paribas Cardif to stay ahead of the competition. Profinit has partnered BNP Paribas Cardif since 2011.

View Case Study

Migrating data to new core systems for O2

Within O2’s extensive project called Simple Online Company (SOC), Profinit provided within the Big Data services a detailed plan and prepared and implemented data migrations from 10 discarded or modified applications to 7 newly running systems. The migration consisted not only of a physical movement of the data but also of sophisticated data transformations due to a different logic of the systems, product portfolio simplifications or cancellation and creation of tens of tariffs, customer packages and other additional services.

View Case Study

Increasing acceptance rate through machine learning

For the UK fintech company Amplifi Capital, the most prominent lender in the UK credit union sector, we delivered a behavioural model to optimise underwriting with a personalised offer in real-time with a minimal latency. The model predicts the probability of acceptance of each client quote based on hundreds of features incl. credit-bureau data. The number of loan offers accepted increased by 30% as a result of the individual offer for each customer.

New Business Intelligence solution for VIG Re

For VIG RE zajišťovna, a.s.—the only reinsurance company in the Czech Republic—Profinit implemented a new Business Intelligence (BI) solution – Data Warehouse (DWH) and business reporting systems. Technologically, the delivery was based on an MS SQL Server database solution using the proprietary Profinit framework for efficient DWH construction. Reporting is implemented on the SAP Business Objects platform. With the introduction of the BI solution, VIG Re has the right information at its disposal at the right time, to make sound decisions.

Knowledge base AI assistant for Raiffeisenbank CZ

Raiffeisenbank CZ launched an AI initiative to enhance operational efficiency within its digital strategy. Teaming up with Profinit for AI expertise, the bank gained seasoned consultants and deep insights into AI and Machine Learning. The collaboration resulted in the successful design, implementation, and launch of an AI Assistant. The AI Assistant solution enhances employee productivity by accessing the knowledge base through natural language queries and delivering referenced answers in real-time.
“In our efforts to enhance operational efficiency, the collaboration with Profinit has helped us tremendously. Profinit’s expertise in AI and machine learning, combined with their strategic approach to data processing and security, has not only met but exceeded our expectations.“
Lukáš Mazánek, Chief Data Officer at Raiffeisenbank CZ

View Case Study

Nearshoring partner for internal application development

Berenberg, one of Europe’s leading private banks, was looking for a partner to outsource internal application development. Profinit provided a team to work together with a team from Berenberg to develop applications and fulfil their business needs. The collaboration started with the Securities Workbench project which facilitates investment advisory services in securities. Profinit brought their expert knowledge of full-stack development, project organisation and governance. Together with Berenberg we stabilised the Securities Workbench project, designed a modular architecture, migrated the project from on-premise to Azure Cloud, and implemented new modules.

“Our collaboration with Profinit on the Securities Workbench project exemplifies how distance is no barrier to achieving innovation and teamwork at its best. Together, we’ve crafted a scalable, future-proof platform that not only meets today’s needs but is ready for tomorrow’s challenges. The seamless integration of our teams and the expertly designed modular architecture forced us to establish a long-term cooperation with Profinit.”

Marcel Pochert, Head of Digital Transformation at Berenberg

View Case Study

ETL Migration and decommissioning of legacy technologies

Based on its excellent reputation earned on projects for Česka spořitelna, Profinit was selected for the challenging “ODI Leaving” project. The project’s aim was to migrate a large amount of data from ETL processes that prepare data for a data warehouse and an analytics platform to a new modern environment and to decommission old and outdated Oracle Data Integrator technologies. Profinit facilitated the successful migration of 130 processes and 1 200 mappings for 3 internal customers, leading to a significant shortening of ETL runtime by many machine days. An additional bonus was that the customer acquired a fully-developed framework for the automation of regression testing, ready for use on other projects. Ceasing to use ODI technologies achieved cost savings of approximately 20%.
We chose a team of experts from Profinit based on our previous very positive experiences with similar migration projects they had previously undertaken in our bank… We were very satisfied with the overall result and their professional approach. We successfully achieved all stated goals, including approximately 20% cost savings from discontinuing the use of the ODI technology, based in licence fees, architecture and infrastructure simplification, T2M reduction, data load speed-up and overall solution stability.”
Milan Prošek, Data Product Owner at Česká spořitelna

View Case Study

Development of the Coinmate cryptocurrency exchange

Between 2014 and 2023 we delivered a complete solution for one of the largest cryptocurrency exchanges in Central Europe – Coinmate. The platform’s development was iterative and after 6 months of development, in October 2014, the new cryptocurrency exchange was deployed into the production environment. During 2015 – 2023, Profinit consultants worked with the exchange’s internal team on numerous extensions and related integrations, such as client onboarding, trading and marketing. One of the project’s biggest challenges was to design and develop a trading kernel that would provide buy and sell order entry and matching. A specific challenge was also to understand the workings of each cryptocurrency and provide integration to their blockchain so that users could make deposits and withdrawals.

“Profinit’s team of experts created a cryptocurrency exchange for us based on our requirements from the ground up. They designed a comprehensive solution, which we successfully implemented, and helped us develop it further. Thanks to their experience in the banking environment, we were assured of the high security of the exchange. We also see Profinit’s consultants as important partners who helped us make key decisions to further develop our trading platform.”

Roman Valihrach, Founder of Coinmate

 

DevOps: Automated deployment on the cloud

For our client, Amplifi Capital, the UK’s largest provider of consumer loans in the credit union sector, we fully automated the deployment pipeline creating the Infrastructure as Code (IaC). This solution now enables the deployment of new microservices with a single click. Learn more about this use case.

Critical system integrating data for Prague Airport

Profinit created and maintains the Central Airport Operational Database (CAODB) system for Prague Airport (more precisely for the Prague Airport Administration). CAODB integrates and publishes data from/to operational systems, such as the Resource Planning System (RMS), the Baggage-Handling System, or the Passenger Information Display System. Thanks to CAODB, key operational data is in one place, enabling, among other things, the effective implementation of the Collaborative Decision Making (CDM) methodology, for which Prague Airport and Profinit, together with other partners, won the “IT Project of the Year” award in 2011 from the Czech Association of Information Technology Managers (CACIO). The CAODB system is mission-critical, so Profinit provides 24/7 technical support for it with very strict SLAs.

Key Business Intelligence partner for KB

Since 2005, Profinit has been cooperating in the field of Business Intelligence (BI) with Komerční banka (KB) (a member of the Société Générale international financial group), on a continuing basis. The projects we have implemented represent a wide portfolio of consulting services in BI & DWH solution development, but also in terms of infrastructure and operations. Key projects in recent years have been, for example, the migration and development of a management information system, and BI solutions for the bank’s risk management and distribution departments. The volume of services is on the order of several thousand MDs per year, the greater part of the work is contracted as fixed deliveries. Profinit has been a reliable long-term partner for KB in BI.

Receivables Monitoring System (REMOS)

Profinit delivered a strategic solution called REMOS (Receivables Monitoring System) for ČSOB, one of the largest commercial banks operating in the Czech Republic. The bespoke software development project consisted of specifying and implementing a system, which enables bank clients to file and deposit invoices in various electronic formats and through diverse channels without the need to physically visit a branch.

View Case Study

Interest rate optimiser for Equa bank

Setting interest rates is a complicated problem. If you set rates too low, you are cutting your profit. If you set them too high, your clients won’t accept them or will soon move on. The competition is very stiff, especially online. Most banks use risk-based pricing, assigning each class of clients interest rates according to the probability of default. This method can be improved by data-science algorithms. By giving clients who are more price sensitive a little bonus at the expense of clients who are less price sensitive while maintaining the average interest rate for all risk classes, we can improve acceptance, reduce turnover, and boost profit while still complying with strict banking regulations. Find more in the video or read about the use case at bigdataforbanking.com.

Household detector for a challenger bank

In telecommunications as well as banking, you have enough data to reconstruct family relationships between clients. Based on data concerning card payments, phone calls, and location, you can correlate people in time and space. If you add some simple demographics, you end up with a surprisingly precise data-science model that finds a person’s spouse, parents, siblings, etc. In some countries, this sort of data mining cannot be legally employed, but in others, regulations are not so strict. So, the bank can use this knowledge to improve a person’s risk score based on her family members. Thus a telecommunications operator or a bank can make a better-targeted marketing offer.

Instalment detector for Raiffeisenbank

The majority of the profit in modern retail banking comes from loan products. Unfortunately, not all of your clients borrow money from you. Our data science model is built to detect all payments going from the bank to other banks and financial institutions to pay for existing loans elsewhere. The whole instalment loan battlefield can be laid open in front of your eyes. This is a perfect opportunity to offer clients a loan transfer or consolidation through a bank. You find more about the use case at bigdataforbanking.com.

Real-time IoT data stream processing

We have delivered real time data stream processing solution for IoT data based on Apache Kafka and Hadoop.

Non-life insurance and very short time to market application management outsourcing

KBC Global Services NV is the IT solution provider for KBC Group (the Belgian based multi-channel bank), delivering IT solutions to finance companies within the group. ČSOB Pojišťovna is one of the group‘s banks to whom we have been providing software systems and application management outsourcing services since 1998. Within this time Profinit has developed many finance solutions and we continue to be a trusted service provider.

Mobile and internet banking with 30% savings on development effort

Erste Digital (formerly sIT Solutions) is the IT solution provider for Erste Group and is responsible for the development, implementation and servicing of banking software operated by approximately 4,000 employees. For sIT Solutions in the Czech Republic, we provided the complete outsourcing of internet and mobile banking development, including system integration. Due to our process optimisation approach, we have realised 30% savings on the development effort.